<ul data-eligibleForWebStory="true"><li>Nano Labs commits $500 million to BNB through a private placement deal using convertible promissory notes to aim for a significant share of the token's circulating supply.</li><li>Conversion mechanism involves zero-interest convertible notes with a maturity of 360 days after the issue date. Nano Labs plans to control 5% to 10% of the entire BNB supply.</li><li>The news led to a 106% surge in Nano Labs' stock price. The conversion price for the notes is set at $20 per share, but the transaction's entire settlement isn't guaranteed.</li><li>Institutional interest in BNB is growing, with reports of a digital asset hedge fund securing a $100 million funding round for BNB and VanEck planning to launch a spot ETF for BNB.</li></ul>

Nano Labs Commits $500 Million to BNB Treasury Via Private Placement

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